The Kenya- Egypt trade mission was launched Tuesday with an aim of increasing bilateral trade between the two countries and narrowing the trade deficit which is currently in favor of Egypt.
In 2020, Kenya exported goods worth USD26,118 million into Egypt mainly tea, flowers, and coffee while the latter exported goods worth USD 6,033 million with sugar and yeast among key commodities.
Kenya generally exports primary produce from the agricultural sector to Egypt. In return, it imports processed goods and natural minerals from Egypt.
Dubbed the Nile Food Africa trade initiative, the forum seeks to link 21 Egyptian manufacturers to trade opportunities in Kenya as well connect Kenyan business communities eyeing the Egyptian market with the right trade partners.
Speaking during the launch, KNCCI CEO Samuel Matonda encouraged Kenyan traders to seize the opportunity to showcase their products even as he called for more focus on fruits such as avocado which he says have huge export potential.
He said the forum which was organized by the Kenya National Chamber of Commerce and Industry (KNCCI), Egyptian Commercial Service (ECS), Ministry of Trade and Kenya Private Sector Alliance(KEPSA) is of high value to both economies and will drive development and job creation.
“We are trying to bridge that gap, Egyptians are not only coming to import but export, one of the strong convictions Egypt and Kenya share is that economic and trade cooperation leads to growth and prosperity for our people, this meeting is of high value to the relationship of the two countries to deliver business dividends to both economies,” he said.
Egypt, he noted, is a strategic partner to Kenya owing to its proximity to the Gulf region and European states adding that it has perfected the art of value addition which drives its export volumes.
“There has been a shift from Egyptian business community pumping goods to Kenya and they now want to import, they have changed their strategy,” he said.
Kenyans eyeing the Kenyan market have been urged to register for the initiative in order to find the right trade partners in the North African country.
Source: Capital FM Kenya.